City Council Minutes 2012 10 02 - Laserfiche WebLink

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City Council Meeting Minutes October 2, 2012 Page 7 of 13 review process); Open Space Tax (if necessary place on 2013 ballot); Capital Projects to Prioritize; Re-Evaluate Community Events; Evaluate HR Issues (compensation, benefits and workload); Cooperation (with regional/intergovernmental cooperation); Recreational Parks/Trails Boards and Sustainability. The 2013 Budget focuses on Major Capital Projects, Maintaining Services and Information Technology. The Major Capital Projects (C-I-P) include the following: Street Repair & Reconstruction Program ($7.5M, 2013-2017) City Services Facility ($6.6M, 2012-2013) McCaslin/US36 Interchange — DDI ($3.5M, 2013-2014) South Street Gateway Underpass ($2.9M, 2013-2014) Maintaining Service Levels IT Plan Implementation Finance Director Watson reviewed the City-Wide Sources of Funds: Taxes (Sales, Property, Use and Lodging) —46%; Charges for services - 44%; Intergovernmental — 4 %; Licenses and Permits — 2% and Interest earning - 1%. He reviewed the City-Wide Uses of Funds and noted this is the first time Recreation and Cultural Services budget will exceed the Public Safety and Judicial budget. This is due to a realignment of the priorities in the capital Improvement and operational budgets. The General Fund Sources of funds total $14,507,040 for the 2013 Revenue Budget. Sales/Use taxes—47%; Property tax— 16%; Charges for Services — 12%; Other taxes — 10%; Intergovernmental - 7%; Licenses & Permits — 5% and Interest/Other—3%. General Fund Uses of Funds for the proposed 2013 Expenditure Budget totals $14,670,201 (excluding transfers) as follows: Police Safety and Judicial - 32%; Recreation and Cultural Services— 26%; Public Works and Utilities— 14%; Administrative — 15%; Community Development— 9%; Parks and Open Space —4%; and Governance and Civic Involvement— 1%. Forecast Assumptions: There are two large transfers: 1) $1.5 Million to the Historic Preservation Fund (which will be paid back between 2013 and 2018) and 2) $2 Million to the Capital Projects Funds for 2014 and 2015. These transfers will bring down the reserves but the reserves will stay above the minimum amount as established by policy. • Sales Tax Revenue: +5.0% in 2012, +3.5% in 2013, annual average of +3.0% for 2014 - 2017. • Property Tax Revenue: -2.2% in 2012, +1.3% in 2013, annual average +3.4% for 2014 - 2017. • Consumer Use Tax: +50.0% in 2012, +3.0% in 2013, annual average of +1.3% for 2014 - 2017. • Building Use Tax: +66 8% in 2012 47 0% in 2013 66.8% 2012, -47.0% 2013, annual average of -12.0% for 2014 - 2017.